Risk Assessment and Management Flashcards
In what ways are emissions dependent on location.
Emissions are higher when there are less people in the area. Example would be san francisco (high population lower emissions) and Coaldale NV (population less than 100 and higher emissions)
What is risk and what is hazard? What’s the difference
Risk is likelihood of something happening usually involving people.
Hazard is a plausible consequence of a decision.
What are examples of risk and hazard (2 each)
risk: species lost per year and acres lost per year
hazard species lost, contaminated land
what are steps of risk analysis process?
First we identify a hazard. Then we characterize the type of risk. We can then place that under risk management and then risk valuation.
Hazard Identification:
Epidemiological Studies
• Animal Studies
• Cell Tissue Studies
• Observation
• Conjecture
Risk Characterization: Goal is to establish the significance of a risk to inform the decision-making process
Risk Management:Goal is to consider quantified risks, costs, benefits and value judgments to arrive at a decision
Risk Valuation :Involves values and perceptions of risk that must be considered along with social,
economic, and political factors throughout the risk analysis process
Approaches to risk characterization?
Utilitarian: Risk = likelihood * consequence
Actuarial: Assumes tomorrow will be like today
how is human health risk calculated (assessing human health risk?
Risk = dose*potency
Dose: determined via exposure modeling
Potency: Determined via dose response modeling
name two ways risk perception is thought to be high.
A person’s risk perception is typically high when:
> they are not in control (e.g., driving vs. flying)
> when the act is not voluntary (caffeine vs. second-hand smoke)
> when the risk is unknown* (electromagnetic radiation)
how is risk managed? 2 sentences about it
Common risk management approaches:
> cost-benefit analysis
> decision analysis / decision trees
how is risk communicated?
> share your plan and performance evaluation
dont dismiss anyone
be open, honest and frank
body language (eye contact)
if you can’t defend it, don’t say it (retractions hurt credibility)
decision analysis with valuation. What is it?
Your decision is now resting on the evaluation made in economics standpoint.
Expected of Decision 1=E[D1]=
sum([Column vector $ decision 1].*[p1 column vector] )
Maximin[D1]= smallest value in column
Maximax[D2]=largest value in column
what is likelihood of outcome 1 to happen?
Probability column will tell you likelihood
